Launched in February by co-managing partners Jan Akesson and Gustav Bard, Adelis Equity Partners Fund I has attracted investments from leading European and North American pension funds, foundations and funds of funds.

“We are grateful for the support from our investors and excited about the investment opportunities for our maiden fund,” said Akesson, in a statement.

“We are also pleased that we were able to establish what we believe is the largest on-shore private equity fund operating in the Nordic Region," said Bard, in a statement. "Adelis Equity Fund I is a standard Swedish limited liability company."

Adelis received legal advice from O’Melveny & Myers and Vinge in the fundraising process. Park Hill Group was placement adviser.

Adelis Equity Partners seeks to acquire majority interests in businesses with enterprise values between €20 million and €200 million located in the Nordic Region. In addition to its headquarters in Stockholm, Adelis has an office in Copenhagen.